[Update 11:20: Squiggles on the DJIA. The whole thing reminds me of the sub700 area but only in reverse. The waves are spiky and "three-ish ABC" and hard to count. Then bears were calling for more downside (me) - and bulls were completely demoralized. Now the bulls are calling for more upside and bears are crushed. It has truly flipped]

[Update 11:00 AM: Something I am keeping an eye on is the DJIA squiggles.]

[Update 7:20 AM: http://www.marketwatch.com/story/associated-banc-corp-posts-loss-to-sell-stock-2010-01-11 Another bank, another credit-related loss. No worries, they'll just get the sucker equity holders to pay for it. There is a dangerous precedent with this. Sooner or later, a massive loss of confidence will catch up with reality. Flooding the markets with billions in extra equity shares (banking sector as a whole) is a one trick (or 2) pony. For if your stock drops too much, people tend to pull their business. Think C hasn't lost business since their stock is floundering? Oh you say FDIC has everyone's back? A wake up call is coming. The US government is not only broke it should be in receivership. Its all small clues stacking up in the puzzle of what I call becoming "aware of the ponzi". The FED is playing a shell game, there are no buyers of treasuries except them.]

[Update 7 AM: One thing I noticed that has disappeared since a few months ago from mainstream media stories is that they no longer seem to ask the question, "Is the rally too far too fast?" That is no longer questioned. In fact the theme of a "pullback" also is not getting much play. Now 12 out of 12 or whatever seems to have an average prediction of an 11% gain this year or something.]

[Update 6:31 AM: Someone dumped some 1700+ NDX contracts in premarket all at once. No worry, the autobots caught the bid]

NDX minis triangle target is about 1904. Also FTSE 100 hit 5600 today just as this chart predicted. Keeping an eye on a potential apex turnaround.

Is there anyone left on the bearish side? Do I stand alone thinking we are going to top or even crash early this week? I think we have all seen a significant change of sentiment to the bullish. How long it lasts is why we count waves and track other sentiment-related data. And both suggest we will top this week, maybe even today.

The FTSE chart below shows a triangle. That pattern indicates a final pattern. Its at target today. Also the apex point typically marks a turn.

[Update 11:20: Squiggles on the DJIA. The whole thing reminds me of the sub700 area but only in reverse. The waves are spiky and "three-ish ABC" and hard to count. Then bears were calling for more downside (me) - and bulls were completely demoralized. Now the bulls are calling for more upside and bears are crushed. It has truly flipped]

[Update 11:00 AM: Something I am keeping an eye on is the DJIA squiggles.]

[Update 7:20 AM: http://www.marketwatch.com/story/associated-banc-corp-posts-loss-to-sell-stock-2010-01-11 Another bank, another credit-related loss. No worries, they'll just get the sucker equity holders to pay for it. There is a dangerous precedent with this. Sooner or later, a massive loss of confidence will catch up with reality. Flooding the markets with billions in extra equity shares (banking sector as a whole) is a one trick (or 2) pony. For if your stock drops too much, people tend to pull their business. Think C hasn't lost business since their stock is floundering? Oh you say FDIC has everyone's back? A wake up call is coming. The US government is not only broke it should be in receivership. Its all small clues stacking up in the puzzle of what I call becoming "aware of the ponzi". The FED is playing a shell game, there are no buyers of treasuries except them.]

[Update 7 AM: One thing I noticed that has disappeared since a few months ago from mainstream media stories is that they no longer seem to ask the question, "Is the rally too far too fast?" That is no longer questioned. In fact the theme of a "pullback" also is not getting much play. Now 12 out of 12 or whatever seems to have an average prediction of an 11% gain this year or something.]

[Update 6:31 AM: Someone dumped some 1700+ NDX contracts in premarket all at once. No worry, the autobots caught the bid]

NDX minis triangle target is about 1904. Also FTSE 100 hit 5600 today just as this chart predicted. Keeping an eye on a potential apex turnaround.

Is there anyone left on the bearish side? Do I stand alone thinking we are going to top or even crash early this week? I think we have all seen a significant change of sentiment to the bullish. How long it lasts is why we count waves and track other sentiment-related data. And both suggest we will top this week, maybe even today.

The FTSE chart below shows a triangle. That pattern indicates a final pattern. Its at target today. Also the apex point typically marks a turn.

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The content on this site is provided as information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author and are for entertainment purposes only. Any investment decision that results in losses or gains made based on any information on this site is not the responsibility of the author. The author may from time to time make statements about certain investment vehicles and strategies, but it is not to be taken as investment advice. Again, it is just the author expressing his opinion only.

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About Me

I like to chart and I am an avid student of Elliott Wave Theory. I combine wave theory with standard technical analysis to track market movements and predict future movements.
Disclaimer: I do this for fun (although donations are encouraged!). Due diligence is required on your part as my charts have been known to steer in the wrong direction from time to time.
I am not responsible for any monetary losses that you may occur. Feel free to bookmark my site! I will try an answer questions, but time constraints sometimes do not allow me to get to everything. I do answer most all email so feel free to drop me a line, usually I reply at night (I have a day job) Thanks!
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daneric40 - comcast - net (was recently changed from Verizon)